Pax Offers Tips on Avoiding Scams

Socially responsible investing shop Pax World Funds of Portsmouth, N.H. is warning investors of Internet scams, one of which recently targeted its customers.

The firm is offering tips to help investors avoid being taken by "high-pressure" e-mails promising outrageously high returns while charging extremely high fees and directing readers to a faulty Web site. In Pax’ case, the e-mail directed investors to a phony, unauthorized Web site, FairPax.com, which looked just like its official site and promised returns of 657% a year, according a Securities and Exchange Commission release. The scheme caused only about $400 worth of damage because Pax World was alerted to the fake site before too much money was sent to scammers, according to published reports.